Global Missiles and Missile Defense Systems (MMDS) market, valued at
US$33.1 billion in 2017, is projected grow at a CAGR of 2.18%, to value
US$41.0 billion by 2027.

The cumulative market for global expenditure on Missiles and Missile
Defense Systems is valued at US$384.4 billion over the forecast period.
Demand for missiles is anticipated to be driven by the ever increasing
threat of radical institutions (both state and non-state) with access to
weapons of mass destruction which is exemplified by the conduct of rogue
states like North Korea and Iran. The Asia Pacific region is the largest
spender in the domain with China, India, and South Korea anticipated
accounting for the bulk of spending.

In terms of categories, missile defense systems (MDS) is expected to
account for the highest proportion of spending, followed by markets for
surface-to-air (SAM), surface-to-surface (SS), air-to-surface (AS),
air-to-air (AA), anti-tank (AT) and anti-ship (AS) missiles. The market
for missile defense systems is anticipated to be the largest category
primarily due to the ongoing procurement of missile and air defense
systems by countries of the Asia Pacific, North America and European
regions.

The Asia Pacific is expected to account for the largest share of the
total global expenditure on missiles and missile defense systems, with a
53.1% share in the forecast period. High demand in the region is
primarily driven by the expenditure on the sector by China, India, and
South Korea. India and China are followed in terms of investment by
South Korea which has been majorly spending on air and missile defense
systems in light of North Korea's aggressive stance on developing
nuclear weapons. North America accounts for the second largest market
share in the global missile & missile defense systems domain and is
expected to be the lead technology propagator in the market, with
expenditure projected to increase from US$8.4 billion in 2017 to US$8.8
billion in 2027. During 2017-2027, the region is expected to
cumulatively spend US$84.0 billion on the missile & missile defense
systems sector.